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I don't quite get it. Why should we pretend Warren Buffett et al. don't exist in this context? If these billionaires are a part of the US economy, they contri
by mertd 14y ago
I don't quite get it. Why should we pretend Warren Buffett et al. don't exist in this context? If these billionaires are a part of the US economy, they contribute to its strength.
- stcredzero 14y agoIn some sense, many billionaires stop being a citizen of their home country and become a "citizen of the world." This also goes for multinational corporations. Warren Buffett is a notable exception to this, however, being "bullish on America."
- wisty 14y ago> If these billionaires are a part of the US economy, they contribute to its strength. If you are interested in aggregate GDP, then yes, billionaires contribute to the country's strength. If you care about the average person, then no. The US won't care about aggregate GDP so much once they aren't number 1.